“July’s average prices are showing positive gains over last year, and year-to-date numbers, as expected, are still closing the gap from the peak pandemic market activity of early 2022. Additionally, inventory continues to climb steadily as new listings are added to the housing stock, creating more options for homebuyers. August may be a slower month in Ottawa, but I wouldn’t take a vacation from shopping for your home.” Ottawa Real Estate Board President Ken Dekker suggests.
1,263 residential properties were sold in the month of July compared to 1,102 sold in July 2022.That’s a increase of 15%.
Now is the BEST time to work with a realtor as we know the day-to-day variabilities Ottawa’s resale market is currently experiencing. Contact Ottawa’s Best Real Estate Agents Brooke & Jenna if you have any questions or for a free comprehensive comparative market analysis. We are always happy to help!
Source: Ottawa Real Estate Board, www.oreb.ca
Here is a breakdown of July 2023 Ottawa Real Estate Market Numbers: